North Stawell Minerals Reports 87,300 oz Gold Resource at Wildwood and New High-Grade Hits at Darlington

Strategic Position in a Proven Gold District

North Stawell Minerals Ltd (ASX – NSM) holds a commanding 504 square kilometres of highly prospective ground immediately north of the Stawell Gold Mine in Victoria, Australia. This corridor has historically produced over 5 million ounces of gold, making it one of the most prolific gold regions in the country. NSM’s tenure covers a 60-kilometre strike of the Stawell Mineralised Corridor, with approximately 85% of the area concealed beneath a thin blanket of unmineralised sediments. This cover preserves the potential for shallow, large gold deposits that remain largely unexplored.

The company’s exploration strategy is anchored on replicating the mineral systems that formed the Stawell Gold Mine, focusing on two key models – the ‘Stawell-type’ mineralisation associated with basalt emplacement, and the ‘Mariners-type’ high-grade lodes. Both models are detectable through advanced geophysical techniques, allowing NSM to target concealed gold mineralisation effectively.

Encouraging Drilling Results at Wildwood and Darlington

Recent drilling campaigns have delivered promising results, particularly at the Wildwood and Darlington prospects. Wildwood’s Mineral Resource was updated in June 2023, showing a 59% increase in contained gold ounces to 87,300 ounces at an improved grade of 2.4 grams per tonne. The resource remains open at depth and along strike, although domain volume restrictions currently limit expansion potential. Nevertheless, its proximity to the Stawell mill and shallow mineralisation make it a valuable satellite deposit candidate.

At Darlington, located just 6 kilometres north of Stawell, drilling has extended mineralisation both down-dip and down-plunge, revealing zones of visible gold and high-grade intercepts such as 2.3 metres at 29.2 g/t gold. These findings suggest the presence of a compelling shallow gold system with characteristics similar to the historic Mariners Mines, which produced gold at grades around 30 g/t. Notably, maiden drilling at Darlington West intersected multiple significant gold intercepts, confirming the potential for a repeat of the Stawell-type system in this area.

Robust Exploration Pipeline and Planned 2025 Program

NSM’s exploration pipeline is robust, with multiple targets identified through integrated geological, geophysical, and structural modelling. The company plans a focused 2025 winter program prioritising follow-up drilling at Darlington and Darlington West to test the extents of high-grade mineralisation. Complementary surface geophysics and shallow air-core drilling are also planned to refine targets and expand the resource base cost-effectively.

With a management team boasting over 30 years of Victorian mining experience and a strategic location within 50 kilometres of a fully permitted operating gold mill, NSM is well positioned to advance its projects towards production. The company’s single-commodity focus on gold within a single jurisdiction further streamlines its development pathway.

Balancing Opportunity and Challenges

While the exploration results are encouraging, challenges remain. The Wildwood deposit’s domain volume restrictions may limit rapid resource growth, and some drill holes have returned only anomalous gold grades. Additionally, the timing and scale of the 2025 work program depend on factors such as access, contractor availability, weather conditions, and successful capital raising efforts. Nonetheless, the geological context and recent drilling successes provide a strong foundation for NSM’s growth ambitions.